LIV cash crunch hits Asian Tour, as Korea Open cuts planned US$500,000 prize money boost
Move comes after Saudi Arabia’s Public Investment Fund announces it will stop bankrolling breakaway golf circuit after the 2026 season
The LIV injection would have pushed the total prize fund from around US$1 million (HK$7.8 million) to a record US$1.5 million for the historic tournament first played in 1958.
However, on Wednesday, it released a statement saying: “The Asian Tour can confirm the prize money for the Kolon Korea Open has been revised to the original amount of 1.4 billion Korean won (US$1 million), the same as last year.
“We communicated this revision to our members following an update from the title sponsor Kolon.
“The champion will receive a bonus of 200 million won, as previously announced.”
In April, the Asian Tour announced the Korea Open prize fund boost to great fanfare.
“With US$500,000 in prize money support from LIV Golf, with whom we have been expanding our partnership, the winner’s share will be 700 million won and the total purse 2 billion won, making this the largest tournament in its history,” tournament organisers trumpeted on April 24.